Trade Minister Todd McClay, currently in China, remains optimistic about New Zealand’s potential to expand exports in the country despite challenges such as debt in the property and government sectors. He highlighted China’s forecasted 4.5 percent economic growth for this year and the next, emphasizing the importance of trade relationships in boosting New Zealand’s economy.
China is New Zealand’s largest market, accounting for 22 percent of goods and services exports. McClay also expressed interest in reviving the Southern Link plan, positioning New Zealand as a key player in the trade route between Asia and South America.
The NZ-China Free Trade Agreement, which came into effect in 2008 and was recently updated to include e-commerce and government procurement rules, has significantly contributed to quadrupling exports between the two countries. McClay acknowledged the importance of ongoing efforts to strengthen economic ties with China.
During his trip, McClay will meet with various Chinese officials and businesses in Beijing and Shanghai, focusing on sectors such as food and beverage, health, services, and logistics. He will also explore opportunities in the agricultural sector in Harbin, Heilongjiang province.
As part of the government’s commitment to doubling exports within a decade, Prime Minister Christopher Luxon will also embark on a journey to Singapore, Thailand, and the Philippines. McClay emphasized the significance of nurturing strong relationships with trading partners to achieve this ambitious export target. Could you please rewrite this sentence?
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